Date:- 01 Jun 2022
2022 06 News Folio - Koshur Samachar
Kashmir Samiti Team
K P Govt staffer killed by militants in valley
Arun Sharma, Bashaarat Masood, Jammu, Srinagar Militants, on May 12, barged into a government office in central Kashmir's Budgam district and fatally shot a Kashmiri Pandit employee -the third attack against the minority community in the Valley this year.
Police said Rahul Bhat, a revenue department official at the tehsil office in Chadoora, was taken to a hospital where he succumbed to his injuries. They said two militants were involved in the attack and that Bhat was shot point blank with a pistol.
Courtesy: Times of India, May 13.2022.
Father of killed Govt. staffer worries Over Safety of KPs working in Kashmir
The attack on Bhat, in his 30s, triggered protests from Pandits in the Valley. Police sources said demonstrations were reported from Qazigund, Pulwama, Budgam, Gandebal and Baramulla. The protesters threatened to resign en masse if the killings were not stopped and raised slogans against the BJP, Prime Minister Narendra Modi and Home Minister Amit Shah, seeking protection.
Political parties across the spectrum-including PDP, NC, People's Conference and BJP. condemned the killing strongly.
On the incident, the Jammu and Kashmir Police tweeted: "Terrorists fired upon one employee namely Shri Rahul Bhat from minority community in Tehsildar office Chadoora, Budgam. He has been shifted to hospital."
"The injured was immediately brought to SMHS Hospital (in) Srinagar for treatment, where he succumbed to his injuries," it said.
Following the attack, a joint team of Jammu and Kashmir Police, Army and Paramilitary forces cordoned off the area and launched a search for the assailants.
Bhat, who is survived by his wife and a 6-year old daughter, was staying with them in a government accommodation at Sheikhpora village in Budgam district. The accommodation was constructed for Kashmiri Pandit employees under a Central scheme Bhat was appointed under this scheme in 2011 and his first posting was in Budgam. He was transferred to Chadoora tehsil two years ago.
Bhat's father Bitta Ji Bhat, a retired Assistant Police Sub Inspector, questioned the safety of Pandits in the Valley. The family is based in Jammu.
"Is this how the government will take us back home to the Valley," he asked. "The government has totally failed to protect Kashmiri Pandits."
On April 13, a militant shot and killed Satish Kumar Singh, a Rajput, outside his home in Kakran village bordering Shopian and Kulgam district. Members of this community have been living in some villages of south Kashmir for seven decades now.
On April 4, militants shot and injured a Kashmiri Pandit, Bal Krishan Bhat (39), in south Kashmir's Kulgam Bhat was shot inside his medical shop near his residence in Shopian's Chotigam village.
Militants had also carried out a number of attacks on Kashmiri Pandits and migrant workers in October last year. Seven people had died in those attacks.
Former chief minister and PDP president Mehbooba Mufti tweeted: "Condemn the and gruesome act wherein a Kashmiri Pandit boy Rahul Bhat was murdered in Chadoora. Another life ended and another family devastated. My heart goes out to the bereaved family in this hour of grief. It also belies the false claims of normalcy in Kashmir."
National Conference Vice President and former CM Omar Abdullah tweeted: "I unequivocally condemn the murderous militant attack on Rahul Bhatt. My heartfelt condolences to Rahul's family."
People's Conference leader Sajad Lone called the attackers "psychopaths" "Strongly condemn the killing of Rahul. It is difficult to read the minds of these psychopaths who indulge in such killings. Yet another family is added to the list of victims of violence. May the departed soul rest in peace," he tweeted.
The BJP, in a statement, quoted its state unit chief Ravinder Raina as saying that "all those involved in this heinous crime will be neutralised very soon".
Courtesy: Times of India, May 13, 2022
Pandits hit streets in Kashmir Valley, Jammu to protest another killing
Agencies/Updated
SRINAGAR: Kashmiri Pandits employed under the PM package hit the streets at various places in the Valley on May 31 last, to protest the killing of a woman teacher by terrorists in Kulgam district of Jammu and Kashmir
Rajni Bala (36), who belonged to Samba District and was posted at a government school in Gopalpora, was shot dead by terrorists earlier in the day. Kashmiri Pandit employees assembled at the clock tower at Lal Chowk, officials said.
The protesters, mostly women, raised slogans like "Administration haye haye" (down with administration), "Minorities ko jeene do" (Let the minorities live) and "We want justice". In south Kashmir's Qazigund town, Kashmiri
Pandit employees blocked one tube of the Jammu Srinagar national highway to protest Bala's killing. They appealed to PM Narendra Modi and Union home minister Amit Shah to intervene in the matter to ensure the safety of minorities.
Meanwhile, protests against the killing of a Hindu school teacher in Kulgam district rocked several parts of Jammu city on May 31, with protesters burning an effigy of the administration and raising slogans against Pakistan.
Terming the killing a "cowardly act", the protesters said assurances given by the Centre and
the Jammu and Kashmir administration to ensure the safety of minorities in the Valley have proved to be false.
Kashmiri Pandits took out a rally in the Durga Nagar area to protest Bala's killing and the administration's "total failure" to protect them.
J&K LG orders migrant officials shifted To respective HQs for safety
M. Saleem Pandit
SRINAGAR Jammu and Kashmir lieutenant governor Manoj Sinha ordered on June 1 last the shifting by June 6 of all migrant employees in the Union Territory to their respective district headquarters for safety in the wake of targeted terror attacks on non-Muslims posted in remoter areas.
A top official said that approximately 4,500 migrant employees are posted in district or municipal town areas. "In the last week, around 500 employees, as per their request, were transferred to locations preferred by them, including around 100 couples," the official said, adding that employees who are not migrants would be considered for postings to safer places "as per option by Saturday".
Courtesy: Times of India, June 2, 2022.
Govt. will do everything to address Package employees problems: LG
JAMMU, May 27: Lt Governor, Manoj Sinha today reiterated his commitment of beefing up the security of PM package employees working in Kashmir Valley besides redressing their other grievances following the killing of their colleague Rahul Bhat who was gunned down by terrorists in his office at Chadoora in Central Kashmir's Budgam district a fortnight back
Governor was talking to a 23 member delegation of package employees, Jammu based employees posted in Valley and non package employees who called on him at Raj Bhawan Srinagar on May 27 demanding relocation of package employees to safer places outside the Valley.
As per sources the meeting was held in a cordial atmosphere and package employees apprised the LG of their demands giving main thrust to their relocation in safer places. The Lt. Governor assured the delegation that the Government will do everything possible to address their grievances.
However Sinha was non committal on the issue of relocation to safer places while saying that the security of the employees will be beefed up and construction of quarters will be intensified.
Senior bureaucrats and Police officers including Niteshwar Kumar, Principal Secretary to LG, MK Diwidi, Principal Secretary GAD and IGP, Kashmir, Vijay Kumar, Relief and Rehabilitation Commissioner, Ashok Pandita, Director Information and Nodal officer Migrants Akshay Labroo were also present in the meeting.
The IGP informed the delegation that within three years Kashmir will be totally normal and terrorism will be weeded out completely from the Valley and we will ensure full security to you.
However, the delegation made it clear that the security and safety of package employees as well as of their families is their main concern. The delegation informed the LG that other demands have no priority for them till their security concern is addressed. "What is the fun of providing other facilities when we are facing threat to our lives", a package employee told
reporters after the meeting He said that the LG heard their demands patiently and assured that he will meet them again in near future.
Meanwhile the package employees working in Valley reiterated not to join their duties and continue to remain on protest till their main demand of relocation to safer places is addressed.
The employees also submitted a memorandum to Lt Governor. It reads "With high resentment and in the state of extreme shock and fear psychosis, we the minority community employees of the Valley hereby state that we have been working in the Valley from last more than a decade and from time to time we have faced a number of extremely vulnerable and grim security situations".
It added: "The episodes of 2016 unrest had already broken our spine, but the recent spur of targeted killings from 2021 with cold blooded murders of M.L. Bindroo, Deepak Chand, Supinder Kaur and many more have taken breath from our soul.
The recent killings had unfolded the major lapses in security but instead of working out a concrete plan to address the issues, the Government has failed to provide security to the minority community as well as the non-locals.
The memorandum said from the first day of the PM package employees, an agreement was signed in the form of a bond, which stated that the concerned employees will be working under special SRO in which the salary will be provided by the Central Government but the services will be given to erstwhile State. In this agreement an employee can never seek a
transfer outside the Valley, whatsoever be the situation. In any case if the employee move out of the Valley, he/she will forfeit the claim on the Job.
The memorandum said promotions were denied on the pretext that since the PM Package employees are appointed under special rules, the promotion rules were not framed resulting in the juniors appointed under State cadre getting promotions and the package employee was left with despair and desperation.
Courtesy: Daily Excelsior, Jammu, May 28,2022
Non-Muslim staff wants to be Shifted outside valley
SRINAGAR: The J&K school education department on June I last directed the chief education officers of Kashmir division to post non-Muslim staff in "safe" locations of their choice as protests snowballed over a schoolteacher from Jammu falling to terrorist bullets in Kulgam on May 31 last and dozens of Kashmiri Pandit and migrant employees took flight from the Valley.
The move, which came a day after lieutenant governor Manoj Sinha ordered the shifting of all migrant employees in the Union Territory to district headquarter towns by June 6, coincided with a rural bank manager from Rajasthan becoming the eighth victim in a rash of targeted terror attacks since May .
Sources said many Kashmiri Pandits living in rented houses in Srinagar's Shivpora neighbourhood had left for their native places in Jammu division for fear of more selective terror attacks. What was a trickle at the start of the week seems to have turned into an exodus after the killing of Vijay Kumar, branch manager of Ellaquai Dehati Bank at Arch Mohanpora in Kulgam.
Nearly 8,000 government employees from different districts of Jammu and around 2,000 from various parts of the country work in the Valley.
Ramesh Chand, a schoolteacher posted in south Kashmir's Anantnag district, said the continued terror attacks on civilians had made it amply clear that nobody was safe in J&K "Anyone can become a victim of a terror attack at any time,"
Fellow schoolteacher Anjana Bala, who works in north Kashmir's Kupwara district, said it was pointless shifting non-Muslim employees within the Valley because there was no such thing as a safe zone given how terror outfits were striking at will. She said those from Jammu division should be sent back there, at least till a semblance of normalcy returns,
Placard-bearing education department employees. in Jammu have been protesting schoolteacher Rajni Bala's killing outside her school and demanding that those likely to be targeted like her be relocated immediately.
KPs cancel Religious, Social Service Programmes In view of Hindu killings in valley
In view of the killings of Hindus in the Valley, some KP organisations have cancelled the programs they had, originally thought to undertake during the current auspicious period. A Press note, issued by Sh. B. L. Bhat, Chairman, Administrative Committee, Sri Ramakrishna Mahasammelan Ashram, Nagdandi, Kashmir, says:
Youth in Kashmir are on protest in all clusters including Mata Ksheer Bhawani Complex. As per messages received from various quarters, Kashmiri Hindu groups, especially Jagti organisations, have cancelled Yatra to Ksheer Bhawani. Similar appeals for Yatra boycott have been issued by other prominent organisations.
Recent unfortunate killing of Shri Rahul Bhat of Kashmir followed by Smt Rajni Bhala of Samba, Jammu, in Chadoora & Kulgam districts added fuel to the burning fire. Our "Bhandara Programme '' in absence of yatra / pilgrims especially our youth working presently under all odds in Valley is meaningless as besides spiritual gains our sole purpose is to serve Yatris only. We, with community support, had made all procurement to serve around 20,000 persons in a planned way within complex from 5th of June, 2022, to 10th of June,2022. Shree Ramakrishna Mahasammelan Ashram "SRMA", Nagdandi besides performance its normal "Project & Spiritually Oriented Service Mission'' activities is to care for Youth, the "Ambassadors of our Community", supporting facilitation of their security concerns, improvements in working environ, living facilities & service conditions Our Executive Body Members met to discuss the present position to take appropriate decision under the prevailing unfortunate situation.
The executive members, considering all parameters, opined to cancel the "24th Bhandara Service" programme in view of security & other reasons. Wide scale protests by our youth, presently in the Valley clusters are on. The unfortunate grave issue deserves top priority by the administration. Under the present scenario we, under compulsive circumstances, decided to cancel the 24th Bhandara Service with regrets.
Kashmiri Pandit staffers will be shifted to safer districts: J&K LG
NEW DELHI/SRINAGAR: Days after terrorists entered a government office and shot dead a Kashmiri Pandit employee, Jammu & Kashmir LG Manoj Sinha, on May 15, informed PAGD and BJP delegations that PM package employees, mostly Kashmiri Pandits, will be deployed in secure and safer district and tehsil headquarters in view of the recent terror attacks on them.
After meeting the governor, the People's Alliance for Gupkar Declaration (PAGD) urged Kashmiri Pandits to not leave the Valley, adding they share equal pain and will bear this tragedy together.
J&K government sources said during the meeting with PAGD leaders, Farooq Abdullah, Mehbooba Mufti, CPI(M)'s M Y Tarigami, NC MP Hasnain Masoodi and Awami National Conference senior vice president Muzaffar Shah, the Lt Governor assured the delegation that necessary action was being taken by the administration for safety and security of PM package employees.
The assurance came a couple of days after over 350 PM package employees resigned in protest against the targeted killing of Rahul Bhat by terrorists in Budgam
Lt Governor Sinha informed the delegation that security forces have been given full freedom to act against the targeted killings and said those aiding and abetting terrorists will not be spared. He told the delegation that all PM package employees will be shifted to secure district and tehsil headquarters and to address other issues a special cell has been constituted in LG secretariat to address other issues. All parties are welcome to give their suggestions, he said.
Sinha also met a delegation led by BJP J&K president Ravinder Raina and general secretary (organisation) Ashok Koul, which handed over a memorandum to the LG and appealed for action on the set of demands related to PM package employees. BJP leaders also requested Sinha to look into the promotion grievances of PM package employees.
PAGD spokesperson MY Tarigami, while speaking to reporters, said the Valley is as much home to Kashmiri Pandits as to Kashmiri Muslims. If Kashmiri Pandits want to leave in the wake of Bhat's murder, what about the families of slain Kashmiri Muslims, he asked. "If Rahul was killed, Riyaz was also killed. You don't have to leave your home. This is your home, this is my home. We will bear this tragedy together," he said.
Courtesy: Times of India, May 16, 2022
Yasin Malik jailed for life in NIA terror funds case
New Delhi: A special National Investigation Agency (NIA) court in Delhi on, May 25 last,, sentenced Kashmiri separatist leader Yasin Malik to life imprisonment in a J&K terror funding case. The NIA had sought the death penalty for the convicted chief of the proscribed Jammu & Kashmir Liberation Front (JKLF). Rejecting the NIA's plea for capital punishment, special judge Praveen Singh awarded varying jail terms to Malik for offences under the stringent Unlawful Activities Prevention Act (UAPA) and the IPC. Meanwhile, in Maisuma locality (a short distance from Malik's residence) in Srinagar, clashes erupted between the supporters of the JKLF chairman and security forces.
Malik was convicted last week by a Delhi court after he pleaded guilty to charges related to terror funding, spreading terrorism and secessionist activities in Kashmir in 2017.
The NIA had charged the JKLF chief of orchestrating violent protests during 2016, in which
89 cases of stone-pelting were reported.
The agency told the court that Malik's home was raided and they found a copy of a Hizb-ul-Mujahideen letterhead. The agency said that the letterhead, signed by various terror organisations, warned people who supported football tournaments in the Valley to disengage themselves from the organisers of the game and show their loyalty to the "freedom struggle".
The investigation agency made the submission before the special NIA court amid high security and sought capital punishment for Malik. While the amicus curiae appointed by the court to assist Malik argued for life imprisonment the matter the minimum punishment in the matter.
The special court, in addition to awarding life imprisonment to the Kashmiri separatist leader,
awarded varying jail terms for various offences. The court also imposed a fine of over Rs 10 lakh on Malik The life term was awarded for two offences Section 121 (waging war against the Government of India) of the IPC and section 17 (raising funds for the terrorist act) of the UAPA. All the sentences will run concurrently.
Earlier, on May 10, Malik had pleaded guilty to all charges, including those under the stringent UAPA He told the court that he was not contesting the charges levelled against him that included sections 16 (terrorist act), 17 (raising funds for terrorist acts), 18 (conspiracy to commit terrorist act) and 20 (being a member of a terrorist gang or organisation) of the UAPA and sections 120-B (criminal conspiracy) and 124-A (sedition) of the IPC.
The separatist leader said that he would not "beg" for mercy and that the court could decide at its discretion.
Courtesy: DECCAN CHRONICLE. May 26, 2022
Dozen teachers, non-teaching staff of Kashmir Varsity likely to be sacked for terror links
SRINAGAR: The J&K government is all set to dismiss from service around a dozen Kashmir University teachers and non-teaching staff for their alleged terror links.
It has already terminated the services of one Mohammad Hussain Pandit, professor in the chemistry department of KU, once considered to be very close to late Ali Shah Geelani and now having links with hardcore separatist activists in the varsity.
According to sources, the UT government is all set to sack more teachers and non-teaching staff of KU, who are accused of playing an active role in creating and sustaining the ideological narrative framework necessary for a "terrorist secessionist network"
Official documents reveal that Kashmir University Teachers' Association (KUTA) has been on the radar for a long time and it has been found that KUTA is responsible for creating a "terrorist secessionist network"
The term of now sacked Prof Hussain as KUTA president had remained controversial. Prof Hussain is now facing internal inquiry for misappropriation of funds and forgery.
The documents further reveal that after nullification of Article 370, two discreet analyses of academic and student activities in KU were done. The results showed that an overwhelming majority of faculty are free from the blemish of "secessionist thinking and activities" The analysis of non-teaching staff is still underway.
"As regards the teaching staff, only three have been found to be contaminated to an extent that requires immediate attention. There are 12 others who have been assessed to be contaminated to a lesser degree, requiring a different type of graded response. There is a third category of 24 others who may need counselling and observation only," one of the documents reads.
The official documents say: "KUTA is one of the half a dozen associations that had played an extremely important role in creating and sustaining the ideological-narrative framework necessary for a 'terrorist-secessionist network' to thrive and succeed in Kashmir's case as part of a well thought out strategy designed by hostile Pakistani intelligence agency ISI to eventually defeat the Indian state by turning its own instruments against itself and making the Indian state finance its own meltdown (sic),"
"KUTA has never been a legal entity. It has avoided registering itself under the relevant laws and yet has managed to manipulate the system to its advantage. For example, it has been allowed to open accounts in the bank and have financial transactions even though it has not complied with legal requirements of registering itself with a declared memorandum of association or a constitution," the official documents reveal.
Courtesy: Times of India, May 16, 2020
Pandits unlikely to get Jammu transfer
NEW DELHI: As the Central security agencies and Jammu and Kashmir police reconfigure their strategy to tackle the spurt in attacks on civilian 'soft targets' in the Valley, J&K government sources have made it amply clear that Kashmiri Pandits and other minorities serving in J&K government shall be given adequate protection in the Valley itself and not be transferred out to Jammu division.
Calling the shifting of J&K government staffers belonging to minority communities, particularly the 5500 Kashmiri Pandits temporary move", an officer said this was being done not "because of what we think" but to take care of the minority employees' own concerns.
"Ethnic cleansing happened in the 1990s. We cannot allow it now. We believe in a multicultural society," said the officer.
On the non-local migrant workers also coming in the line of terrorists' fire, the officer said that while around 10,000 non-Muslim government employees were being shifted to safer locations, "ultimately, we have to provide security for everybody as per our Constitutional mandate".
Sources disclosed that Amarnath yatra would proceed as per schedule as disturbing it would be like playing into the hands of terrorists who are indulging in wanton killings to discourage people from turning up in large numbers for the annual pilgrimage. "Amarnath yatra is a symbol of J&K's composite culture. Killings may not stop completely as terrorists are desperate since they are unable to execute big attacks on high-value targets. But there will always be ways of controlling the killings and we will do so," said an officer
An officer said that this was not the first time that civilians were being made soft targets. The same trend was last seen in October 2021. "We had tackled these attacks then and we will tackle them now," he said.
The killings of low-value targets, according to sources, are largely being executed by pistol-wielding local 'hybrid terrorists' who are drafted by identified terrorists to stage one-off attacks before they quietly mingle back into the society. "There are systems to tackle them," said the officer.
Officials claimed that the overall security situation in J&K has been looking up with around 9.9 lakh tourist arrivals in the UT till May 31 this year. Also, around 2.5 lakh persons have registered for Amarnath Yatra thus far. Besides, the development projects in J&K are on track, with the systems of clearances and appraisal of works in J&K "being the most transparent in the country," said an officer.
"Entire Valley had erupted after the killing of terrorist Burhan Wani. There was a popular government in the place then. But there were no protests after the death of Hurriyat leader Syed Geelani or even after a life sentence was handed to Yasin Malik. Around 1.5 lakh persons offered prayers on Eid at Hazratbal this year. There were no bandh calls in 2021, and even where there were, they were not heeded," it was pointed out.
"Obviously, a small section of people who were earlier controlling everything in J&K are not happy. They are now peddling a narrative that only they can run the systems in J&K and the old, corrupt ways should return," said an officer.
On J&K polls, sources said it was the Election Commission's prerogative to decide on their timing. "A three-tier system of governance is functional in J&K for the very first time. So democratic systems, as per the Constitution, are in place," said the officer.
Discounting the theory linking the current killings to sentiments whipped up by the movie 'Kashmir Files', the officer said: "I don't think one movie can decide what people are thinking".
Courtesy: Times of India, June 4, 2022
Pandits in valley: Open up gates, let us go to Jammu
SRINAGAR: For nearly 6,000 workers from the Kashmiri Pandit and other non-Muslim groups at the mercy of targeted killings by terrorists in the Kashmir Valley, the question swirling inside everyone's head was "Who is next?" The answer came naturally: "Not me. We can't stay here."
But they were left with a Hobson's choice on Friday as the J&K government rejected their demand to be transferred outside the Valley, but decided to shift them from interiors to safer locations like district HQS. J&K cannot give in to Pakistan's "ethnic cleansing" plan by acceding to Kashmiri Pandit employees' demand to be relocated, according to some officials.
"The proposal is impractical. How can we stay completely isolated from the general public? We have to step out, buy groceries etc," said Ashvani Pandita, a Kashmiri Pandit, who returned with his family to Kashmir some years ago after he got a schoolteacher's job under a prime minister's special package to rehabilitate communities displaced by the long-drawn separatist insurgency in J&K.
Most of these "returnees" live in government-built settlements at various places in the Valley such as Sheikhpora, Purkhoo, Muthi, Mishriwala, and Vessu.
About 400 families at Sheikhpora in Budgam district demanded authorities to open the gates of their colony so that they could leave for Jammu. "We can't stay. No one bothers about their jobs anymore," said Pandita.
Sanjay Kaul at Vessu camp in Qazigund along the national highway in Anantnag district was equally anxious, though he said his colony has been ring fenced with security since the killings escalated. "There are 300 families in Vessu, which is well protected. But we have been asked to report for work at the district headquarters, 12km from my colony," he said, pointing out that anyone could become a soft target once outside the protected perimeter of their camp.
"The best option would be to send us on deputation to Jammu for some months or a year and let things calm down in Kashmir," Kaul said. J&K authorities said targeted terrorist violence would not change plans to hold the annual Amarnath Yatra, scheduled from June 30-August 11.
Courtesy: Times of India, June 4, 2022
Threat to Amarnath Yatra is there: Dy CM
The Jammu and Kashmir deputy chief minister Nirmal Singh on Sunday said that the threat to the annual Amarnath Yatra from the militant outfits was there, but the security agencies were fully geared up to defeat their nefarious designs.
Singh told reporters on the sidelines of a religious function.
He said that the security agencies were taking steps and several militants were being killed and those surviving were running for their life.
He added that infiltration attempts were being made by the militants, but they were being eliminated by the alert security forces.
"No stone has been left unturned and we also pray to God for successful and smooth completion of the Yatra," he said.
The state government with the help of several social organisations has made all sorts of arrangements for the welfare of the pilgrims, he added.
Pakistan rupee slips to historic low: Omer Farooq Khan
ISLAMABAD: As the Pakistani rupee continues to sink against the US dollar, declining to all time low on May 13, 2022, ousted PM Imran Khan claimed that he and his finance minister had warned the "neutrals" - a reference to the country's powerful security establishment - that the "fragile economic recovery would go into a tailspin" if the conspiracy against his government succeeded. The conspiracy, according to Imran and his Pakistan Tehreek-e-Insaf, was hatched by the US in collaboration with his political opponents to remove him from office for pursuing an "independent foreign policy".
Taking to Twitter, Imran said: "Rupee at all-time low (of) Rs193/$ (from Rs178 on March 8); interest rates at 15 per cent, highest since 1998; stock market down 3,000 points or 6.4pc; stock market lost Rs604 billion capitalisation; inflation 13.4pc, highest since Jan 2020."
Imran's tweets surfaced with the Pakistan Stock Exchange and the Pakistani rupee coming under pressure over past few days as the new government has failed to take decisive decisions. The latest depreciation recorded in rupee's value was followed by the central bank's report on May 12, 2022, that the foreign exchange reserves had depleted to a 22-month low, at $10.3 billion. The greenback reached 193 in the inter-bank market on May 13, 2022, breaking all previous records. The domestic currency had closed at Rs191.77 against the dollar on May 12, 2022.
Imran said the numbers reflected the "lowest-ever confidence in the imported government". Analysts have linked the economic pressure to uncertainty over the continuation of the IMF's loan plan coupled with a rising oil import bill and widening trade deficit. Responding to Imran's claims, Pakistan's information minister Maryum Aurangzeb said: "If there is a historic rise in (the price of) the dollar, then Imran Khan is responsible for it."
Courtesy: Times of India, May 15, 2022
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Courtesy: June 2022, Koshur Samachar